Nigeria’s Debt Servicing To Gulp 123% Of 2023 Revenue

The World Bank has projected that debt servicing will gulp 123.4 percent of the Federal Government’s revenue in 2023. <br />A presentation by the new World Bank Lead Economist for Nigeria, Alex Sienaert, projected that debt servicing would gulp 100.2 percent of Federal Government revenue by the end of 2022. <br />The Washington-based bank says that Nigeria’s debt service to revenue ratio could stand at 102.3 percent by the end of 2022. <br />It described the public debt in Nigeria as concerning due to the rising debt service-to-revenue ratio.